"lunch money." menu --ke a look at the in politics, its war on the senate floor and it's not about solving our money problems. in motors, we have the new gm driver in chief as the profits accelerate. the new movie theater experience, amc reinvents the wheel with cozy and plush seats and service with a smile, there is a latest push to go public. how to turn bit coins into dollars. starting with politics, it it

was an all nighter on the senate floor. this was round two of a fight we first told you about right here on "lunch money" back on november 21. >> these nominees believe them up or down vote. a republican filibuster and denies them a fair vote, any vote. it denies the president his team. >> those of you who have been in the minority before should know better. let's remember how we got here. let's remember that it was senate democrats who pioneered, literally pioneered, the practice of filibustering circuit court nominees. >> there have been 168 fellow boaters -- filibusters and half of them occurred during the obama administration. 50%, 4.5 years, 50%. is there anything fair about

that? >> we are not interested in having a gun put to our had any longer. is an the bestis interest of united states senate and the american people to make advise and consent me nothing, obviously, you can break the rules, change the rules to achieve that. some of us have been around here long enough to know that the shoe is sometimes on the other foot. >> the shoe is definitely on the other foot, sort of. on that day in november, the democrat. controlled senate change the rules republicans have been blocking many of the judicial nominees. the democrats voted to end the requirement for 60 votes. now, you only need a simple majority. that is 51 voids and amaze the majority does not need the minority to get things done. >> republicans have basically tied up the senate lore and are forcing harry reid to use the allotted time for nominees and

they cannot block nominees that they are forcing harry reid to use every single minute of debate time as required in order to consider these votes. taking every minute, republicans mean taking every minute. 30 hours are allotted for debate for each nomination. at midday on friday, there were at least nine on the list. it started yesterday afternoon and has gone on. and on. and on. they would lose their not- for-profit status. >> we are going to do everything we can to finish our schedule. >> will there be some people that benefit? >> as truth tellers, to get to the bottom of this rotten apple -- >> soon to be 15 million americans -- >> the war on the senate floor goes on even as congress gets ready to go on winter break tomorrow and harry reid says do

what you must come republicans, bring your sleeping bags. >> we will finish these nominations this week. if it goes into friday or saturday, that's what we are going to do. we have to get this done. christmas is approaching, i understand that and we all understand that. this session of congress does not end at christmas time. we have work to do. >> republican strategy is slowing down the action in an already divided senate. don't get them started on the budget or taxes or entitlement or obamacare. the president is trying to get young people to sign up for health care coverage under the affordable care act. the glitches have set things back a bit but no worry, he has the sexiest man alive on his side. adam levine won the designation last month and he is urging young americans to sign up for online health insurance exchanges. it is part of a social media campaign that kicks off today. use --her celebrate celebrities are helping.

>> when i'm in the oval office, call me president barack. attitude, iet an tell them to stop. you need that new healthcare. sign up because it's hot. i'm commander-in-chief and i'm two-term strong plus i've got the self-care which is got it going on. >> getting young people on the books for obama care is key, just ask a doctor who was also senate majority leader, bill frist. he talked with us yesterday. >> obamacare does not address cost, costs will skyrocket. it says let's bring everybody in the room but they overpromised. they gave everybody comprehensive benefits which we cannot afford and then it set up so that the young people under 35 have to subsidize everyone else. young people are simply not signing up. >> but that is how insurance

works. is you need and not help the people in the pool. do you think they can get them? >> they are not signing up because the way the bill is designed as the plans are expensive for them. a 30-year-old today who is paying very little but getting comprehensive health insurance no longer can get that. they have to buy very expensive plants. the way it was designed is that sick people can only pay three times what young person or healthy person does. therefore, the help young person has to pay a huge amount because they are limited by this 1-3 ratio. , republican, says obama care gets it 75%) it needs to be reformed. interview on the bloomberg.com. fednew number two at the and why stanley fischer is a big deal and we will talk about that

at first, the detroit revival has been a long road. we will take you on that journey, next. we bid farewell to the home plate collision. major league baseball is banning the play where base runners will not be allowed to knock over the catcher. as for the catchers, no more blocking the plate. ♪

announcedors, peugeot annual sales will be four

percent lower and two years later than targeted. gm says it will sell its entire remaining stake in the company worth about $350 million. this says peugeot looking elsewhere for new alliances. bad news for the french but good news in detroit. the incoming gm ceo is the first woman to run a major automaker ever. she is also on the cover of this week's" bloomberg businessweek." she is up for the challenge. listen to what bob martin delhi had to say. -- bob nardelli had to say. >> she's got good focus but the challenge will be the competition, to enhance the platform and differentiate the blame -- brands. she will have to separate herself a little bit and bring that outside in perspective to be able to change what she had put in place. that is the toughest thing a ceo has to do. >> hard to forget five years ago gm and chrysler had an $80

billion bailout and six months ago, the last lights went out on the last plant in detroit. >> we are absolutely and, not in the nicest. of detroit. i just want to take a picture every day on the way to work and create a coffee-table book at the end of the year and reflect on the things i see. it was the only time in my 20 year career that i got up in the morning and there was this going to have a job the next day. >> we were down to one shift, down from three. we knew things were getting pretty bad. beas fortunate enough not to

-- only to be laid off a couple of weeks were others relate off her months. it was pretty devastating. absolutely what it took to survive. we cut a lot of different areas. one thing you may not think about is somebody had to cut the grass. those of us that stayed behind had to do something. 283 acres here in this facility and there was some areas where it was above my knee. >> we were out there actually cutting the lawn. that was interesting. i don't do yard work. sisters brothers and were with me as well as management. we worked as a team.

>> no one should be lower tiered. i learned to manage what we earned and complemented with i knew -- with what i do in the outside. i rarely see my family and when i do it's kind of in passing. it's up -- it's not just the work we do >>, it's the sacrifices made. >> i got the e-mail right after christmas. thank you, jesus. there not that many jobs out here paying what chrysler pays. eight gets my kids to school. it pays the bills. >> we are manufacturing the jeep grand cherokee.

we are doing it right here in the city of detroit with detroit employees. there is a lot stacked against the plans. this is not the prime location to be manufacturing. but we are doing it and we have a product that everybody wants. through almost than near-death experience, there's a great sense of pride. >> me being there for 20 years is just home. >> i would love to see how far we can go. >> never count us out. we always want to come back. >> renewed commitment to design has helped revive the big three and here are five cars that are adding to the detroit bottom line.

>> you can read this weeks exclusive story on the new general of gm at the bloomberg businessweekapp. and hilton take service with a smile to the stock market am a an ipo that you can get in on if you have a rewards account. details are next. there we go to break, opening ceremony took lise and a new 30,000 seat stadium to feature 35 sports competitions including archery, wrestling, and karate.

the nominations for the 2014 golden lobes have been announced. contenders- congratulations to all the nominees. between netflix, red box, and movies on demand, the theater industry has competition. one chain is fighting back. look at those plush, red recliners. theaters.e amc >> for almost as long as movie

theaters have been around, they have been threatened. the vcr but tv than each time, movie theater strike back with things like imax3d and now this -- big old seats. is renovating its status as ripping out the older, smaller seats reducing capacity by 54%. the attendance is up 84%. you have power reclining. here and youdrink guide your armrest. it's cozy. why are they doing this? to make more money and is working. if you go back to 1995, the movie theater industry hadtotal.

revenuesof $5.3 billion today, those numbers have doubled. there is an irony. order to compete with your in order to get you out of your house and into a theater, amc has to make its theaters more like your home. amc is also offering shares in the ipo to members of its loyalty club. julie hyman says that's pretty rare. >> this is not something that happens very often if ever. what they are getting access to his to buying and selling $100- $2500 worth of shares in the initial public offering. amc is setting aside 1.25%

there are 2.5 million people in this amc loyalty club. just because you go to the movies, how do we know you're an equity investor? you're not but you have the opportunity. they are not telling you how to invest but they say you can do it if you want. it is a well-known consumer brand and you can buy into it. you get your $12 per year to get him member -- to get to be a member of the movie club. >> sounds like a good deal and the industry will need more good deals trying to lure customers. here is paul sweeney. >> theater business as a starkly been a rocky business, a hit driven business. when you own a movie theater, you're dependent on hollywood. it tends to be quite a volatile business. the movie business has hung in there in terms of attendance over the last 5-10 years. thater operators recognize movie attendance is somewhat

flat. ticketme work with prices. 3-d has been a big plus and maybe they have charged a 30% premium. some theaters are trying to bundle in a dvd or a download or some special seating or food arrangement designed to trto charge rein in pricing for that very small piece of that theatrical moviegoing audience that will pay for it. on the margin, it's a slight positive but it has not been a big mover for the industry. >> these guys have $2.2 billion in debt. the theater operators historically have had quite a bit of debt. these are good cash flow businesses. generally speaking, they have been able to support debt loads ibita. there is a risk associated with

these names. a lot of their success is really tied to the success of hollywood. if hollywood has a bad summer season or a bad full year of releases and attendance is down, that hits the theater operators directly. they are dependent upon the continued success of the product out of hollywood. >> one day, you might be able to pay for your movie tickets with bit coin. the former governor of the bank of israel, stanley fischer at the fed? he might be the new vice. is he up for the job? ♪ up int's get you caught terms of how stocks are trading.

we saw some bouncing around today but stocks are down. there is mixed economic data out today. we will have more "on the markets" in 30 minutes. ♪

>> this is "lunch money," on bloomberg television, streaming on your phone, your tablet, and bloomberg.com. today's moving picture where the video is the story. thailand protesters rollback prime minister at the premise or compound and cut off electricity. demonstrators have threatened to force their way in if the police do not leave. our testers want to replace the thailand before the elections in february. vladimir putin says the russian economic slowdown is due more to domestic issues than the global slowdown. he made the comments during his state of the nation speech before parliament. he said russia needs to rapidly improve its labor productivity

which lags other developing economies. a translator providing sign language at the memorial service for nelson mandela was not a professional interpreter according to the south african government. the controversy surrounding the man group after he was accused of being a fake and says his hand signs were meaningless. the man stood by his credentials but he also says he was being treated for schizophrenia and had a vision of angels while on stage. the number two at the fed, former bank of israel governor stanley fischer is the leading candidate to become the fed vice chairman. another person familiar with the process as the president has already offered the job and he has accepted. he would replace janet yellin who is waiting for confirmation as the chairman. we caught up with stanley fischer earlier this year. the feds mandate is about

the united states economy and you cannot expect them to worry about the rest of the world too much except to the extent it affects the united states. main street is just as much affected by the fed as is wall street. you've got to be able to speak to both. do we do something that the markets expect or do we do what is consistent with our basis for policy? they knew either way it would cause trouble and they went with the basis for their policy and that was the right thing to do. despite the disappointment. there is a slight problem with forward guidance. you have to decide whether you give dates which is what that they gave in the beginning or whether you give conditions. they moved to giving conditions and that's more appropriate. i think that should be the forward guidance and that means you have to understand that there are lots of unexpected things that could happen like inflation could start. i don't think it well. i think it's remote that if it

did, you would not stick with the current interest rates for very long. you would raise interest rates sooner than expected. he was atimf during one that the most tumultuous periods in economic history. >> this is the sweat of the middle of the 20th century. he was in the heart of this as the managing director of the imf as thewidely credited guy i'm crisis and will assist the chairman and the next crisis which many people still are concerned about. >> if that's not enough, he meant toward to current central- bank chiefs, ben bernanke, and mariano draghi and larry summers at the esteemed institute of higher education. called m.i.t. he's got the credentials. hilton and aramark go public on

a down day for stocks. can botcoin be regulated? an art heist in london, thief atconded with artwork valued $54,000. hirst is one of the wealthy is living artists living in england. a sub of these auction of his work netted almost $200 million which is a record for living artists. ♪

went publicorldwide and shares are searching. we spoke with the hilton ceo. >> we love where we are in the cycle overall in lodging and we like where we are in the cycle for lodging ownership. while we are not growing that business from a new unit wind of view or buying new assets, we think there is a huge opportunity to continue to grow the cash flow of those assets and optimize value enhancement opportunities in some of the biggest assets many potential for our tentative uses, tentative-- utilizing uses, residential opportunities, retail and other things. >> where would we be two years from now? if you talk to the industry analysts, they are somewhere

talking 4-7% topline growth. we think that is reasonable. >> luxury and boutique hotels have done well this cycle. felton is not as big and that business is some of its competitors. -- hilton is not as big. >> the demand base for luxury is smaller than upscale or midscale. we have been with waldorf and conrad, the fastest-growing luxury brands under. it is an important segment for us. if you look at the nature of the business in terms of where you usl see growth, i think for and everybody else it will not be dominated by luxury. we will grow luxury as a percentage quickly. if you go around the world, it is more hover up scale. meaning doubletree by hilton and our focus service like hilton garden inn and

homewood. >> what are some of your other growth plans regionally, by segments? >> it's real simple. everywhere. we think we have the best brands in the business, 10 brands at different price points. we have a dominant market share of about 15%. howe are intelligent about we deliver those brands and layer those brands around the world and adapt those brands to the different opportunities around the world, we can grow at an accelerating pace in good times and bad times. if you look where we are in terms of rooms under construction, 100,000. 100% of that is with third-party capital. we are number one in the world in rooms under construction. we are number one in every retailer in the world in a close second in the world. -- in the u.s. in terms of opportunity, it is

very focused in new unit growth and management and franchising. if we are intelligent and continue, we will plan on continuing to do that and we could really have an accelerating growth. >> aramark is also hitting the market today. it runs concession stands at ballparks and provides uniforms to hospitals and universities. here is the ceo. important thing about us going public today is the fact that this will now allow us to be far more competitive in the marketplace and give us more resources to compete for new business. we have 270 thousand associates a mac create great opportunities for them. have further questions many times in your roadshow. it's a fragmented industry. will you be a consolidator? >> the top three global providers with less than 10% of

the global market share, with that comes consolidation opportunities. we feel very comfortable with the organic growth opportunities. with that, we will be very strategic relative to m&a. >> you are choosing your words carefully. everybody wants to know what that means. hilton and aramark shares are up since their debut and opened at $20 per share. surferstina, kite busted out their best moves for the world cup finals. ♪

money," on "lunch bloomberg television on bloomberg television, streaming on your phone, your tablet, and bloomberg.com. we are celebrating 12 days ofbitcoin on bloomberg television. matt miller is back for day four. he has bought and shopped with it and explains the mechanics behind it and today he is all about the exchanges and regulation and chatted with stephanie ruhle and alex for

aurora. imagine difficult to how well you can regulate it. there is no central bank. it is a de-centralized system, an open-source system. down, yout to shut it have to effectively shut down the old internet?\ >> that's right. have seen this before. we were early investors in skype. we invested in other p to p companies. it is distributed and not can be something that can be easily shut down. the risk is if it is shut down in the u.s., it may go overseas. >> what about in terms of how to buy and sell this? i'm on day for looking at exchanges. is not a real

exchange but there are other exchanges. the service is often disrupted and the customer service is horrible and they often ignore customers. it is hard to get your real currency out after you put it in. >> that's a real challenge. it is exchanges and martian services, there are areas we are in -- we are evaluating. there is friction today and it is difficult to buy and sell bitcoin./ some companies are working actively to try to address this issue. >> is there an argument that some of these big times tech investors are not believing in bitcoin, but they'd the leave and disruption? a virtual love to see currency. couldn't we make the argument that maybe they are willing to take a loss just to move the needle? >> that's a great question. >> good point. >> i think it's likely.

>> likely? >> when you look at companies today, most of the companies, there is very little to marshall activity. people are looking at this as a digital version of gold. until there are ways you can spend it, i'm not sure it will have the disruptive impact people are hoping. >> like it or not, there are signs bitcoin is catching on. in stockholm, you can use it to buy crepes. it's the only one. vancouver launched the first earlier this year and sweden will have one soon. they are so cutting edge. let's talk about how a bitcoin machine works. this is the guy who is building it. and we arearvey

creators of the bitcoin machine which is cash to bitcoin in under 10 seconds. this is the easiest way to go. which represents where the money is going. went to have that, it will look like this. my press start on the machine, that is the first enable want to know, where do i send the money? i scan it into the machine. it wants me to insert a bill. i'm taking a low denomination, a five pound bill, i can either keep putting more i've press send and boom, got it. so thest like e-cash identity does not matter. if all i'm showing the machine our qr cose. the machine does not require a connection to a bank. we don't have to sign up at the bank in the bank does not have to take a risk. we are not working with them.

>> so simple. you can spend bitcoin. >> it's the love story that rocked british high society in 1936, edward roman eight abdicated twice divorced american socialite wallis simpson. their relationship was a scandal. sotheby's is auctioning a collection of jewels. owned by the glamorous couple. >> we are delighted to be able to offer this collection of objects. of thebrates the lives duke and duchess of windsor. >> one of the most talked about pieces is a blue sapphire bracelet made by cartier in the 40's. >> it's made up of a series of

large bold links with sapphires. >> the bracelet is estimated to fetch up to $296,000. the auction will take place in london. >> today's mystery meat -- former california governor arnold schwarzenegger riding the national rodeo finals in las vegas on a toy horse? ♪

past is approaching .56 the hour which means we are "on the markets." the s&p 500 is on a tear this many investors are left wondering about next year and where the growth opportunities will be.

chief a chance from the u.s. equity strategist at morgan stanley and how he is setting up for next year. did for our 2014 essay we have high oil but we don't want to buy energy stocks. we downgraded industrials that outperformed. we think the best way to get some -- cyclical exposure is with chemicals. >> you think that's a better way to play it? >> if oil goes higher, i don't think it will be because of demand, it will be because of fear of supply. that does not bode well for energy stocks. the way to play high oil is with chemicals. >> at least cheap gas. oil supply does not seem to be a problem. >> i think it's if you worry about something about fear in the middle east. that's bad for energy stocks and good for chemicals. >> you are increasing

allocations and technology by a little bit. it still above where it was in the benchmark? how are you changing your tech calls for next year? >> we have company specifics that seem to matter more for us picking stocks but we don't have much dispersion. bet, you have to make a bigger one, more concentrated. we are betting on software. the reason is i don't think companies will hire a lot of people and i don't think they will spend a lot of capital to build buildings. they will invest in productivity. i think software is the best way to benefit. >> that seems really aggressive. we have seen such crummy results from ibm in particular and hewlett acord and cisco. -- hewlett-packard and cisco.

i don't see a lot of spending in techland. >> there'll be a difference between hardware and old tech. one stock we are recommending is ultimate software. share and is in a faster growing part of the market so we are old tech sparring partners for decades. p/e. is 100 >> fast-growing stocks that are cheap actually underperform fast-growing stocks that are expensive. >> in a certain market. >> for large baskets of stock because if it is already cheap, the market doubts its sustainability. you should be growing into that valuation overtime.

for the very fast-growing cohort, you cannot say you don't like it because you miss out on the highfliers that continue to do well. >> the growth is like 23% year- over-year. >> there are many companies that make no money that can be great stocks. some have had unbelievable runs that still don't make money. >> isn't that confusing? they do well typically until they miss revenue versus expectations. that will be the key for the expense of growth stocks. can they deliver on the revenue versus expectations? >> that was adam parker. looking ahead to next year. we will be "on the markets" again 30 minutes.

>> live from san francisco, welcome to the early edition of i am emilywest." chang. our focus is on innovation, technology, and the future of business. gets direct with its competor